Sowell Financial Services LLC Sells 809 Shares of Douglas Emmett, Inc. (NYSE:DEI)

Sowell Financial Services LLC lessened its position in Douglas Emmett, Inc. (NYSE:DEI) by 0.6% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 129,928 shares of the real estate investment trust’s stock after selling 809 shares during the period. Sowell Financial Services LLC’s holdings in Douglas Emmett were worth $2,079,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. JPMorgan Chase & Co. grew its holdings in Douglas Emmett by 130.6% during the 4th quarter. JPMorgan Chase & Co. now owns 2,684,597 shares of the real estate investment trust’s stock worth $49,826,000 after acquiring an additional 1,520,348 shares during the last quarter. Bank of America Corp DE grew its stake in shares of Douglas Emmett by 42.5% in the fourth quarter. Bank of America Corp DE now owns 609,662 shares of the real estate investment trust’s stock worth $11,315,000 after purchasing an additional 181,909 shares during the last quarter. Empowered Funds LLC bought a new stake in shares of Douglas Emmett in the fourth quarter worth $412,000. Principal Financial Group Inc. grew its stake in shares of Douglas Emmett by 2.9% in the fourth quarter. Principal Financial Group Inc. now owns 811,655 shares of the real estate investment trust’s stock worth $15,064,000 after purchasing an additional 22,878 shares during the last quarter. Finally, Cibc World Markets Corp acquired a new stake in Douglas Emmett in the fourth quarter valued at $281,000. Institutional investors and hedge funds own 97.37% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on DEI. Wall Street Zen raised Douglas Emmett from a “sell” rating to a “hold” rating in a report on Monday, May 12th. Jefferies Financial Group initiated coverage on Douglas Emmett in a research report on Monday, March 17th. They set a “hold” rating and a $16.00 price objective for the company. Piper Sandler reduced their target price on Douglas Emmett from $20.00 to $18.00 and set an “overweight” rating on the stock in a report on Friday, May 23rd. Finally, Wells Fargo & Company decreased their target price on shares of Douglas Emmett from $20.00 to $16.00 and set an “overweight” rating for the company in a research report on Monday, May 19th. Six analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $18.13.

Douglas Emmett Price Performance

DEI stock opened at $15.00 on Tuesday. The firm has a 50 day moving average of $14.28 and a 200-day moving average of $16.30. The firm has a market capitalization of $2.51 billion, a P/E ratio of 115.41 and a beta of 1.22. Douglas Emmett, Inc. has a 12 month low of $12.39 and a 12 month high of $20.50. The company has a current ratio of 4.32, a quick ratio of 4.09 and a debt-to-equity ratio of 1.50.

Douglas Emmett (NYSE:DEI) last released its quarterly earnings results on Tuesday, May 6th. The real estate investment trust reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.39 by $0.01. Douglas Emmett had a net margin of 2.38% and a return on equity of 0.63%. The firm had revenue of $251.54 million for the quarter, compared to analysts’ expectations of $246.49 million. During the same quarter in the prior year, the firm posted $0.45 earnings per share. The business’s quarterly revenue was up 2.9% on a year-over-year basis. As a group, sell-side analysts predict that Douglas Emmett, Inc. will post 1.45 earnings per share for the current fiscal year.

Douglas Emmett Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th will be issued a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 5.07%. The ex-dividend date is Monday, June 30th. Douglas Emmett’s payout ratio is currently 237.50%.

About Douglas Emmett

Douglas Emmett, Inc (DEI) is a fully integrated, self-administered and self-managed real estate investment trust (REIT), and one of the largest owners and operators of high-quality office and multifamily properties located in the premier coastal submarkets of Los Angeles and Honolulu. Douglas Emmett focuses on owning and acquiring a substantial share of top-tier office properties and premier multifamily communities in neighborhoods that possess significant supply constraints, high-end executive housing and key lifestyle amenities.